A few days after the possibility of a European Union investigation was reported, OKX stopped decentralized services. In a recent publication, the platform recognized the “coordinated efforts” by the Lazarus Group and overuses its mandatory solutions. The company explains that they are taking this measure to implement additional improvements on the platform and prevent inappropriate use.
According to the company, they work with the tools used to track and verify transactions – tools used to correct them Issues related to incorrect labeling. This occurs when transactions made in a distributed exchange are incorrectly associated with OKX. In fact, it is handled on other people’s platforms.
After consulting with regulators, you will make an aggressive decision to temporarily suspend Aggregator DEX services. This measurement allows for additional improvements to be implemented to prevent inappropriate use. We know transparency is important, so we’re working closely with Cryptocurrency Networks Explorers to fix incomplete labeling. Our goal is to properly emphasize the DEX where explorers handle transactions, rather than misidentifying aggregators as exchange points.
Notice issued by OKX.
OKX ensures that you already implement a system that detects directions associated with hackers, especially for distributed services. Additionally, they enable the feature to track the latest directions of computer pirates involved in the Bibit incident, blocking them in real time with centralized service. Exchange representatives emphasize that these measures reflect A proactive approach to keeping your company at the forefront of security.
In its statement, the company points out that its services are “not responsible for protecting customer assets,” but that it “provides access to liquidity through various protocols on different decentralized platforms.”
We want to leave something clear for sure. OKXWeb3 is an aggregator DEX, not a custodian of customer assets. Our function is to provide access to liquidity through multiple protocols, providing users with the most efficient pairing experience. Nevertheless, some people are deliberately misrepresenting our platform, harming not only OKX Web3, but also broader discussions about industry and regulations.
Notice issued by OKX.
A week ago, Bloomberg reported that European Union regulators were investigating OKX within the framework of possible violations of the MICA Act. According to the article, up to 27 representatives from the eurozone met to address the issue. However, the members of the exchange rushed to deny that they were being investigated. At the time, they revealed that the defined services were not different from those offered by other companies in the sector, and that they implemented precautions following the incident at BYBit.
The hacking bibit resulted in the theft of around 400,000 ether, worth about $1 billion. The attack came after regular fund transfer operations between the cold and hot wallets of Exchange House. According to BYBIT CEO and co-founder Ben Zhou, the deal was first approved through multiple signing processes. This process requires that the person in charge approve the operation before it can be performed. At the time the transaction was passed, Zhou used ledger hardware and the URI looked legal, but the destination address was not clearly displayed on the device’s screen, so the attacker diverted the funds to an unknown address.
(tagstotranslate) Exchange House (Exchange)
